Global Retinal Detachment Treatment Market Size

Retinal Detachment Treatment Market Analysis

Over the next few years, the market for treatments for retinal detachment is expected to grow at a CAGR of about 3.3%.

COVID-19 impacted the growth of the retinal detachment treatment market. The lockdown measures and restrictions imposed by the government have disrupted the treatment services in eye hospitals and clinics, which has decreased the demand for instruments. For instance, according to a study published in the British Journal of Ophthalmology in November 2021, in France, there was a 41.6% decline in rhegmatogenous retinal detachment (RRD) procedures from the pre-pandemic period to the pandemic period. Thus, the decreased surgical procedures for RD have decreased the demand for instruments, accessories, and other surgical products, which has impacted market growth during the pandemic period. However, with the resumed procedures and increased hospital visits, the demand for eye surgeries has increased. Thus, the market is expected to grow and regain its full potential in the coming few years.

Factors such as an aging population and an increase in the prevalence of diabetic retinopathy and other eye diseases among the population are driving market growth.For instance, according to 2022 statistics published by the CDC, about 20.5 million people living in America aged 40 years and older have a cataract in at least one eye, and this number is projected to reach 30 million by 2028. Thus, the expected increase in the number of people suffering from cataracts raises the demand for effective surgical procedures and treatment options, which in turn is anticipated to fuel market growth over the forecast period.

Also, as the number of people with diabetes rises, the risk of getting diabetic retinopathy will likely rise, which will increase the demand for effective treatments and help the market grow.For example, according to the IDF's 2022 statistics, about 537 million people around the world had diabetes in 2021, and this number is expected to rise to 643 million in 2030 and 784 million in 2045.So, the growth of the market over the next few years will be driven by the expected rise in the number of people with diabetes.

Also, more people are becoming aware of eye diseases like cataracts, glaucoma, dry eye disease, and others. This raises the demand for eye treatments, which is expected to help the market grow over the next few years.For example, an article in Healthcare from June 2021 says that between November 15, 2020, and January 15, 2021, a study was done to find out how much the general population of the Hail Region in Saudi Arabia knows about common eye problems and what might cause them.31% of the people who took part in the study knew about cataracts, 43% knew about glaucoma, 66% knew about dry eyes, and 44% knew about diabetic retinopathy.The same source also said that 46% of the participants knew about eye conditions, with male participants knowing more than female participants.

So, the studied market is likely to grow over the next few years because of things like the growing number of people with diabetes and eye diseases, as well as the fact that the population is getting older. But the high cost of treatment is likely to slow the growth of the market for retinal detachment treatments over the next few years.